“Millennials” have a lot to answer for.
We don’t buy cars, and we don’t buy houses. All we need to do is refrain from having 2.5 children, and we’ll have destroyed the American Dream.
Analysts often attribute my generation’s spending habits to some form of contrary thinking, but there’s a simpler explanation: we have no money.
A recent article in The New York Times highlights the problem of unpaid internships, which have replaced many entry-level jobs, leaving young people with no way to enter the working world.
Some college graduates spend the rest of their twenties in a cycle of internships, with no ability to advance to real jobs and, of course, no money to show for it.
Employers seem to think that they can run businesses without employees or, at least, without paying them.
In addition to replacing entry-level jobs with internships, they’ve turned increasingly to freelance or temp workers for jobs even the most desperate person won’t do for free.
Since these people aren’t technically employees, a company doesn’t have to offer them benefits, or pay its share of certain taxes–like Social Security–that are regularly deducted from employee paychecks.
Then there was the tantrum some companies threw when the Affordable Care Act mandated that they provide health insurance for all full-time employees. They delayed the employer mandate, then threatened to eliminate full-time positions just to get out of the requirement.
Unpaid internships, the cutting of full-time positions, and oppressively-low minimum wages may be good for business, but they’re not good for society.
People are quick to judge someone who borrows too much, or makes an extravagant purchase they really can’t afford. Maybe we should do the same with businesses.
A business that makes money while keeping its workers poor is operating on as false a pretense as a janitor who buys a new Mercedes.
The latter would be judged irresponsible, so why shouldn’t McDonalds’ be criticized for claiming massive profits while refusing to pay its employees a living wage?
That probably isn’t going to happen It’s always easier to blame the individual than the organization, especially when the organization is judged according to different standards.
Facebook’s purchase of WhatsApp is in the news because of the comical list of companies that appear to be worth less than WhatsApp.
Yet, like Facebook itself, WhatsApp doesn’t produce anything. It’s just an app.
It seems that actually making goods or providing services is bad for business, let alone taking care of employees.
And how can employees stand a chance when money is flowing to businesses that don’t even need to pay for factories or stores to operate?
Karl Marx said the only way for workers to secure their rights was to gain control of the means of production, but when nothing tangible is produced, what is there to take control of?
The economy is becoming increasingly ethereal; the rise of the Internet has made eliminating expenses the main priority of businesses, not being good at what they do, or playing a responsible role in society.
The fundamental purpose of a business is to make money, but when businesses make that their exclusive purpose, everybody loses.
The snide criticism of the “Millennial” lifestyle will probably turn to panic is this generation reaches middle age, and is still getting other people’s coffee.